Dubbed the “google maps of the ocean,” Oceanfarmr allows farmers to accurately record their farm’s activity using innovative GPS-enabled technology. More recently the company launched “farm-to-buy”, an innovative offering designed to transform the aquaculture sector by providing aquaculture farmers with accessibility to a financial alternative. The aquaculture industry is worth over $19 billion globally and Oceanfarmr’s offering offers enormous potential for market growth. Since launching farm-to-buy in September of this year, Oceanfarmr has received more than $60 million in farm finance applications.
Oceanfarmr is among the first 23 impact tech startups to receive investment from the Katapult Group in its latest iteration. The selected startups represent the top 1% of all 1,900 applicants from 62 countries in the accelerator program.
The Katapult Accelerator Program is specifically designed for high-impact ocean and climate technology companies. Katapult’s flagship accelerator has received international praise for being the most comprehensive impact program in the world. Over the next three months, Oceanfarmr will strengthen its expertise in impact, strategy, management and investor readiness through a combination of video modules and hands-on workshops. Oceanfarmr will also benefit from joining a network of international mentors, industry players and investors.
Regarding the investment, Ewan McAsh, founder and CEO of Oceanfarmr, says: “We are proud to be one of the 23 startups that will take part in the Katapult Accelerator 2022 program. Oceanfarmr was created to revolutionize the aquaculture sector and with this funding we will be able to accelerate our mission. We are already looking ahead and will focus on building traction as we approach a Series A boost in the new year.”
He continues, “before developing the app I was using my own memory, whiteboards and spreadsheets, which weren’t fast, were prone to errors at times costly and could be a daunting task at the end of the workday and week. Over the past few weeks I have had the opportunity to meet with our farmers in Australia, the US and Europe and hear first hand about the economic and environmental challenges they have faced over the past three years and how Oceanfarmr has enabled them to do what they do. better and remove those typical pain points that have been the standard practice for years and years. These stories remind us why we first launched and funding is a huge piece of the puzzle in how we scale up our capabilities to continue to serve the aquaculture industry and the people who make it all.
Jonas Skattum Svegaarden, CEO of Katapult Ocean, says: “In our mission to build a world where thriving ocean and economic development can coexist in harmony, we are committed to investing in and helping scale the most impactful ocean-tech startups . We are delighted to have Oceanfarmr on board and look forward to continuing the journey through the accelerator program and beyond.”
*Oceanfarmr is part of Hatch’s investment portfolio, but The Fish Site maintains editorial independence.